Just so you know on my newest purchase I am looking for renovation money as well as financing and the bank is looking for formal quotes as to the materials needed and the amount/cost of the labor that will be involved.

Since inflation was so severe for the last few years, they had essentially decided to raise interest rates aggressively in order to fight this high inflation even if it came at the cost of slowing the economy down.

No, not a hostile take over in the purest sense of the term, they didn't get the business's themself, but they took the business from the business's.

It's called the law of unintended consequences and law makers do this all the time trying to regulate businesses they don't understand.

Is your all-in budget $130K, meaning purchase/rehab/holding/closing costs all must fall within that number?

For now this is based on trust (no contract between me and her) as we are very long time friends and for me is not really about making money at this point as I'm busy regardless, but more of a help to her.

. $1.7M costs, $2.25M completed value.

@Ashish Wa you always end up getting exactly what you paid for.You should only go cheap when YOU know exactly what you are doing.Newbies trying to save pennies, almost always cost themselves dollars via their mistakes.

Instead of them performing a general assessment which is cheaper they chose to do an inspection which is more invasive and discovered that the porch needed to be scraped and repainted which was something that was never addressed in their general walkthrough and inspection of the home after the renovations and incurring more costs. 

If the market changes or costs go up, etc., your flexibility is limited and interest keeps ticking.